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“Meždunarodnoe pravosudie” (International Justice) Journal

№ 3(19) 2016. Iliya Rachkov. Reforming international resolution of disputes between foreign investors and host states

Iliya Rachkov - Candidate of Sciences (Ph.D.) in Law, Associate Professor, International Law, MGIMO University.

Reforming international resolution of disputes between foreign investors and host states

Abstract. The current system of international resolution of disputes between foreign investors and the states hosting their investments needs to undergo reforms. Both the host states and the investors realize that from existing mechanism bears a number of problems: risk of unexpected consequences from entering into international treaties on foreign investments (e.g. regulatory chill), lack of consistency in the applicable rules of international law and in the dispute resolution, etc. In this article the author shows three possible options for reforming of the existing mechanism by distinguishing between them depending on how radical they are. The palliative way of reforming suggests solving existing problems without changing the institute as such. The mo­dernizing way suggests adding new elements to the existing model. The radical way of reforming offers a substitution of the existing system by other tools which are more up-to-date, from the point of view of many states, and perhaps more efficient and objective for the resolution of investment disputes. This article shall have a continuation which shall deal with the trends of last years in the area of resolution of disputes between host states and foreign investors.

Keywords: ISDS; international investment law; international investment arbitration; international investment agreements; foreign investments; host states.

Citation: Rachkov I. (2016) Reforma mezhdunarodno-pravovogo uregulirovaniya sporov mezhdu inostrannymi investorami i gosudarstvami [Reforming international resolution of disputes between foreign investors and host states]. Mezhdunarodnoe pravosudie, no.3 (19), pp.118–136. (In Russian).

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